July 8, 2022

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Gas Markets

Market Watch

August gas futures gave up a chunk of Thursday's 14% gain, falling 26.3¢ Friday to $6.034 per million Btu. Sources tell Energy Intelligence that the pull back is not unusual given Thursday's robust 78.7¢ rally and the contract could resume climbing next week. However, long-term bearish fundamentals could undo any move higher from here. The 12-month strip fell 18.8¢ to $5.494; the 2023 calendar strip was off 8.7¢ to $4.936 (Futures contracts).

WTI August crude rose $2.06 to $$104.79, still down $3.64 for the week.

* * *

Appalachia's Tennessee Zone 4 300 leg, receipts saw the most significant price move of the day, rising 84¢ to $5.02. This compared to benchmark Henry Hub cash prices that were up 57¢ at $6.40. In the Northeast, Boston-area Algonquin declined 70¢ to average $5.28. In West Texas, cash prices at the Permian's Waha Hub rose 36¢ to average $5.76. Meanwhile, Rockies leader Kern/Opal rose 15¢ to $5.93, SoCal Citygate advanced 62¢ to average $6.51 and Northwest Sumas gained 1¢ to average $3.97. In Canada, Alberta benchmark Aeco fell 34¢ to $3.44 (Daily cash prices).

* * *

The Federal Energy Regulatory Commission suspended its scheduled environmental review of a planned natural gas terminal in Louisiana and its supply pipeline because the project developer hasn't provided enough information to move forward, according to a notice issued this week. The move casts doubt on Venture Global LNG's timetable to complete its 20 million tons per year (2.6 Bcf/d) CP2 LNG export terminal in Cameron Parish, La., by 2025 using carbon capture technologies to reduce the facility’s greenhouse gas emissions. But FERC has not received “substantive responses” from the company on key environmental issues to allow it to issue an environmental impact statement for the project, according to the agency.
* * *

The US rig count climbed two to 752 last week, up 270 from a year ago. Gas-directed rigs held at 153, up 52 from a year ago, while oil rigs climbed two to 597, up 219 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 113 rigs to 350, followed distantly by the Eagle Ford Shale, up 36 to 68. The Haynesville Shale rig count is up 20 at 69 (Rig counts).

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Tennessee Zone 4 300 leg, receiptsEl Paso - South MainlineSoCal BorderSoCal CitygateTranswestern Pipeline, San JuanTetco M3Tenn 500 So LA Z1AECOAlgonquinTransco Station 65-20%-15%-10%-5%0%5%10%15%20%Tennessee Zone 4 300 leg, receiptsEl Paso - South MainlineSoCal BorderSoCal CitygateTranswestern Pipeline, San JuanTetco M3Tenn 500 So LA Z1AECOAlgonquinTransco Station 65
Note: Jul 8' 22 versus prior day price: points moving up (57), down (18).
Natural Gas Spot Prices
Trade Date: Jul. 8, 2022 / Flow Dates: Jul. 9-11, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLCTrunkline GasCo.051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLCTrunkline GasCo.
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 8, '22
Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23($/MMBtu)44.555.566.577.588.599.5Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23CurrentLast Month
Henry Hub
Change from prior day, Jul 7 '22

Baker Hughes Rig Count

Baker Hughes US Gas Rig Count
7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 2260708090100110120130140150160 7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 22202020212022
Gas Rigs by Basin
Rig Count as of Jul 8 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 8 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jul 7 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
443626507362338301259215116Jun 30Jul 1Jul 2Jul 3Jul 4Jul 5Jul 6Jul 7Jul 8(MMcf/d)0200400600800100012001400Jun 30Jul 1Jul 2Jul 3Jul 4Jul 5Jul 6Jul 7Jul 8NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
1 Jul 22 2 Jul 22 3 Jul 22 4 Jul 22 5 Jul 22 6 Jul 22 7 Jul 22600080001000012000140001600018000200002200024000 1 Jul 22 2 Jul 22 3 Jul 22 4 Jul 22 5 Jul 22 6 Jul 22 7 Jul 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
29 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul(MW)01000200030004000500060007000800090001000011000(MMcf/d)1500160017001800190020002100220023002400250029 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 JulCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
28 Jun29 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul(MW)020004000600080001000012000140001600018000(MMcf/d)500100015002000250030003500400028 Jun29 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 JulWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
28 Jun29 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul(MW)010002000300040005000600070008000(MMcf/d)9001000110012001300140015001600170028 Jun29 Jun30 Jun 1 Jul 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 JulPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
2011981912032041901971812 July3 July4 July5 July6 July7 July8 July9 July0204060801001201401601802002202 July3 July4 July5 July6 July7 July8 July9 JulyCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 0°
Orlando 4°
Boston 4°
Washington 3°
Seattle 1°
Philadelphia 2°
Nashville 4°
Minneapolis 3°
Los Angeles -4°
Las Vegas -4°
Detroit 2°
Denver -1°
Austin 5°
Atlanta 5°
Southeast US
New York 0°
Orlando 4°
Boston 4°
Washington 3°
Seattle 1°
Philadelphia 2°
Nashville 4°
Minneapolis 3°
Los Angeles -4°
Las Vegas -4°
Detroit 2°
Denver -1°
Austin 5°
Atlanta 5°

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